Sure, they'll happily take direct contributions. But for the first time since public financing of presidential campaigns began in 1976, both major-party candidates will likely turn down federal subsidies for their general-election campaigns— and avoid the red tape and spending limits that come with the money.

The public financing comes via $3 check-off boxes at the top of tax forms.

Breaking a campaign pledge, Obama opted out of the public financing program in 2008 and went on to raise $750 million. He swamped GOP nominee John McCain, who was limited to spending the $84 million he got from taxpayers. Romney won't get caught in that trap. Instead, he's on track to raise $600 million.

Both parties, however, will still take $17.7 million each in federal money for their conventions.

Only one Republican took federal matching money for the primaries: former Louisiana Gov. Charles "Buddy" Roemer, who qualified for $285,470 before deciding in February to run as an independent.

By the way, both Obamas checked the $3 yes box on their joint 2011 tax return. The Romneys checked it on their 2010 forms but have yet to release their 2011 returns.